Current Events & Trends: The fading American dream

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The fading American dream

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Many of those with northwest European ancestry (large portions of the populations of America, Britain, Canada, Australia, New Zealand, South Africa, Switzerland, Northern France, and the Benelux and Nordic countries) are, along with the Jewish people, descendants of the patriarch Jacob and his 12 sons—the 12 tribes of Israel. (To obtain the essential historic and prophetic evidence, request or download our free booklet The United States and Britain in Bible Prophecy.) The English-speaking nations in particular have dominated the world, as prophesied, for the past two centuries.

Decades of remarkable economic growth in America ended with the onset of the 21st century. Since then the country has experienced significant decline. The past decade was the worst for the American economy in modern times, characterized by high unemployment and stagnant wages. China is projected to pass the United States as the world's leading superpower in the next couple decades or so. According to a Sunday Telegraph article, "The head of Goldman Sachs Asset Management has predicted that China could overtake the United States as the world's largest economy by 2027" ("Jim O'Neill: China Could Overtake US Economy by 2027," Nov. 20, 2011).

The Economist reported that "the World Bank sees a relentless decline in various indicators of American governance" (Schumpeter, "American Idiocracy," August 13, 2011). Many U.S. business leaders blame the decline on intransigent leadership in both the executive administration and the Congress. The country's competitiveness is gradually sliding compared to other nations. America used to be number one in many categories.

University of Wisconsin-Madison history professor Alfred McCoy, in a piece titled "The Decline and Fall of the American Empire," argued that U.S. dominance will end by 2025. He said, "The question is not whether the U.S. will lose its unchallenged global power, but just how precipitous and wrenching it will be" (CBSNews.com, Dec. 6, 2010). The biblical evidence has been set forth in the final chapter of the booklet mentioned above. (Sources: The Sunday Telegraph, The Economist [both London], CBS News.)